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-   -   MM (Money Maker) Detective Indicator (https://www.forexfactory.com/showthread.php?t=911239)

robots4me Apr 22, 2019 4:20am | Post# 1

MM (Money Maker) Detective Indicator
 
1 Attachment(s)
MM (Market-Maker) Detective & Liquidity Gap Indicators

May 28, 2019

A change in the thread's direction...
(Beginning at Post #2096 -- https://www.forexfactory.com/showthr...7#post12298537)

For those paying attention, recently I (and others) reached clarity as to whether this thread should continue pursuing how to trade @George's methodology. The answer is 'no'. For those who are here only for @George's methodology, then you should return to his thread. Sometimes his thread is turned ON, sometimes it's turned OFF -- it depends. I believe it recently got turned ON again.

The way things turned out sort of leaves a bad taste in my mouth. However, I did learn a lot and will always be indebted to @George. If anyone feels bad that we could never figure out how to apply what we learned to actually trading -- don't. After 5 months, and hundreds of people spending 1000's of hours -- no one trades @George's methodology outside his inner circle. People from the inner circle sit with @George and spend hours together trading. People who don't sit with @George receive occasional riddles and Treasure Maps. People from the inner circle think they don't have an advantage and that riddles and Treasure maps should suffice -- i.e. their thinking is if only those outside the inner circle stopped making excuses, weren't so lazy, and were smarter then they, too, would get it.

The inner circle is aware the success rate outside the inner circle is 0%. If you are a coach, teacher, mentor, family patriarch, or friend, and everyone around you is failing 100% of the time -- you might contemplate that something isn't working. But the inner circle never contemplates that. On one hand I don't think we were fed misinformation -- but on the other I think their intent was to always keep it a mystery. With a failure rate of 100%, there is no other explanation. The inner circle is composed of some very smart people -- they were aware of the failure rate outside their inner circle.

Here's the plan going forward -- the thread will remain alive but the direction will shift. I'm still interested in MM manipulation and explanations as to why the price moves the way it does, but I wish to focus more on actual trading. With @Nih98's blessing, I would like to transition to his trading system. He is the OP of a beautiful thread (https://www.forexfactory.com/showthread.php?t=915096), shares great tools, spends time preparing excellent screen shots with clear explanations and is a great trader. Also, he is clearly someone who wants us all to succeed. So the plan is to use his system as a reference or baseline trading system -- i.e. something we can become familiar and comfortable with and know it will perform at a high level. And then we will continue to experiment, share observations, and look to make improvements. If new ideas look promising then I will also code additional indicators. Or if people have thoughts as to how to better automate or detect trading signals -- then those could also be incorporated into new indicators.

So, once again, the emphasis will be on:
1. Transition to Nih98's system
2. Trading
3. Further improvements and / or automation

I don't mind if other systems are mentioned -- but only if you can tie it into improving Nih98's system. For example, perhaps another system makes use of a particular observation and you think that could also be adapted to Nih98's system then, yes, that would be perfect.

Oh, yes -- there's another advantage to transitioning to Nih98's system. Below is an example of one of @Nih98's charts. I don't think there will be any further controversy whether or not indicators are useless...

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#################################################################################################

When you create a thread then over time all the posts get locked-down and the only one the OP can revisit to re-edit is Post #1. Furthermore, Post #1 is limited to a maximum of 10 attachments -- and that includes both images and file uploads.

So, in an effort to make it easier for me to better manage the custom indicators I've been uploading, I've created a new thread called "Custom Indicators for TMA-ADR Reversal Trading and BBMA". Here is a link:
https://www.forexfactory.com/showthread.php?t=920925

The "Custom Indicators for TMA-ADR Reversal Trading and BBMA" thread is intended to be read-only -- so please don't post there. It seems FF doesn't allow an OP to make a thread completely read-only, the only way I found to restrict posting was by limiting posting to members ranked at least 'High Impact'.

If you have questions or comments or suggestions regarding the indicators please continue to post them here.

The latest (and greatest) versions of all indicators are bundled in a single *.zip file in post #1 of the new thread.

robots4me Apr 22, 2019 4:59am | Post# 2

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The MMDetective indicator has 3 settings -- described below:

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The first setting, when 'true', removes TOPS and BOTTOMS taken-out by spikes -- this is the default behavior. If set to 'false', then the purple and blue lines will extend to the right-hand edge of the chart (i.e. current time). When set to 'true' then by glancing at the right-hand edge of the chart you see only those TOPS (purple lines) and BOTTOMS (blue lines) that have survived until now.

The second setting, when 'true', displays the fractal points used to determine TOPS and BOTTOMS -- this is the default behavior. If set to 'false', then the fractal points are hidden.

The third setting is used to specify the maximum number of bars to use for the calculations -- the default is 500 and I would recommend leaving it at that value.

TheJube Apr 22, 2019 5:12am | Post# 3

MM (Money-Maker) Detective Indicator MM Detective is a new indicator I recently created -- it shows the "lifetimes" of TOPS and BOTTOMS on a price chart. I've decided to share it with ForexFactory members as a sign of gratitude to FF. I enjoy reading FF and have learned a lot from other members and authors. The idea behind the MM Detective Indicator was hatched from following @George AUS's thread entitled "Price action at the core / tma intra day" (https://www.forexfactory.com/showthread.php?t=874421). For those of you who followed @George's...
Interesting. I tried to install the indicator, but both ICMarkets and Hugosway they it doesnt show up after putting it in the MQL4 folder...

robots4me Apr 22, 2019 5:26am | Post# 4

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Below is an example of applying a 10-period, simple MA to the MMDetective indicator:

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Look at the portion of the price line labeled "Rising 10 Simple MA". Do you see how short the purple lines are and how long the blue lines are? This is not rocket science, and simply confirms -- visually -- why you should not be selling when a 10 SMA is rising. Similarly, looking at the portion of the price line labeled "Falling 10 Simple MA", you can see that the "lifetimes" of the purple lines are much longer than the blue lines -- visually confirming why you should not be buying when a 10 SMA is falling.

Again -- this is nothing new. However, the MMDetective indicator makes it much easier to visualize how the price is moving. Also, combined with the fractals points, this can be used to provide trade signals.

As an FYI -- this indicator does not repaint. However, it usually takes 3-5 bars to compute a fractal point. So, if you notice a fractal point above or below a bar where one hadn't appeared previously, it is because it takes 3-5 bars to compute a fractal point. In other words, fractal points will always lag 3-5 bars.

robots4me Apr 22, 2019 5:38am | Post# 5

Interesting. I tried to install the indicator, but both ICMarkets and Hugosway they it doesnt show up after putting it in the MQL4 folder...
@TheJube -- I just now installed a version of Hugosway MT4 and it works fine. Just to be clear, the indicator does NOT go in the MQL4 folder. It should be copied into the ..\MQL4\Indicators folder.

robots4me Apr 22, 2019 5:55am | Post# 6

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Below is another example using the TmaTrue indicator with the MMDetective indicator:

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I've circled 4 BOTTOMS that poked below the TMA line -- these would have been good places to open BUY positions. I've also circled 4 TOPS that poked above the TMA line -- these would have been good places to open SELL positions.

dicojoxaftr Apr 22, 2019 6:13am | Post# 7

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ok mm im buying gold for fun to 1285 and i dare you to take it down

cheers

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matthew89 Apr 22, 2019 6:15am | Post# 8

Below is another example using the TmaTrue indicator with the MMDetective indicator: {image} I've circled 4 BOTTOMS that poked below the TMA line -- these would have been good places to open BUY positions. I've also circled 4 TOPS that poked above the TMA line -- these would have been good places to open SELL positions.
How do you confirm these signals?

TheJube Apr 22, 2019 6:19am | Post# 9

{quote} @TheJube -- I just now installed a version of Hugosway MT4 and it works fine. Just to be clear, the indicator does NOT go in the MQL4 folder. It should be copied into the ..\MQL4\Indicators folder.
Weird. Yes i did put it in the MQL4\Indicators folder. Could you maybe share the MQL4 file? Because you shared the EX4 file, maybe the other one will work

robots4me Apr 22, 2019 6:26am | Post# 10

How do you confirm these signals?
@matthew89 -- as I stated in post #1, this thread is about an indicator -- not a methodology.

I've created and shared a new type of indicator. I've explained how it works. I've provided a couple of examples of how it may be combined with other indicators. The exercise is left for you to determine (a) if the indicator provides any value and, if so (b) how best to use it in your trading. And if you find a combination that works well for you then, hopefully, you would share it with the rest of us.

robots4me Apr 22, 2019 6:32am | Post# 11

Could you maybe share the MQL4 file? Because you shared the EX4 file, maybe the other one will work
@TheJube -- so, you think the *.mq4 file will work better than the *.ex4? Funny -- I was wondering how long it would take for someone to ask for the source code.

Are you saying the indicator doesn't even appear in the Navigator list? Or that it fails when you attach it to a chart? If it is the former, have you tried refreshing the list (or relaunching MT4)? If it is the latter, then check for error messages under the 'Experts' tab in the 'Terminal' window.

TheJube Apr 22, 2019 6:42am | Post# 12

{quote} @TheJube -- so, you think the *.mq4 file will work better than the *.ex4? Funny -- I was wondering how long it would take for someone to ask for the source code. Are you saying the indicator doesn't even appear in the Navigator list? Or that it fails when you attach it to a chart? If it is the former, have you tried refreshing the list (or relaunching MT4)? If it is the latter, then check for error messages under the 'Experts' tab in the 'Terminal' window.
Well, excuse me for asking for the MQL4 file: if you share an indicator that doesn't even show up in my navigator list on two different platforms, then yes i have to ask it... Interesting to see if it will work on someone else's platform though. Might just be my pc. And yes i have alot of experience and i know how to refresh my terminal and load new indicators, but thanks for the help

robots4me Apr 22, 2019 6:58am | Post# 13

Well, excuse me for asking for the MQL4 file
@TheJube -- of course, there's no harm in asking for the source code -- but it is a BIG deal, right?. If the indicator doesn't even show up in the navigator list then why would that be a reason to ask for the source code? It makes no sense...

I've already spent time downloading and installing MT4 from one of your preferred brokers -- the indicator appears under the Navigator pane and runs fine.

There have been a number of downloads -- and, so far, you are the only one reporting a problem. It is known that MT4 will delete *.ex4 files that it doesn't like (e.g. a text file that was renamed with an *.ex4 extension). Have you checked whether the *.ex4 is still present in the Indicators folder?

TheJube Apr 22, 2019 7:09am | Post# 14

{quote} @TheJube -- of course, there's no harm in asking for the source code -- but it is a BIG deal, right?. If the indicator doesn't even show up in the navigator list then why would that be a reason to ask for the source code? It makes no sense... I've already spent time downloading and installing MT4 from one of your preferred brokers -- the indicator appears under the Navigator pane and runs fine. There have been a number of downloads -- and, so far, you are the only one reporting a problem. It is known that MT4 will delete *.ex4 files that...
I did it because sometimes the mql4 file does work, and the ex4 file doesnt. I also haven't seen anyone post a working picture yet

But back on topic: the file is still in the folder, and still doesn't show up.

We will wait and see if im the only one, so if someone else who downloaded it can confirm if it works or not, would be great

AndresSR Apr 22, 2019 7:13am | Post# 15

{quote} @TheJube -- of course, there's no harm in asking for the source code -- but it is a BIG deal, right?. If the indicator doesn't even show up in the navigator list then why would that be a reason to ask for the source code? It makes no sense... I've already spent time downloading and installing MT4 from one of your preferred brokers -- the indicator appears under the Navigator pane and runs fine. There have been a number of downloads -- and, so far, you are the only one reporting a problem. It is known that MT4 will delete *.ex4 files that...

Nice Indicator...Loads Fine....Thanks for Sharing....

However...Adjusting colors of the lines (Dodgerblue/Magenta) doesn' t work.....prefer a bit "brighter" colors....

And ...it deletes all "manual" drawn lines.....

TheJube Apr 22, 2019 7:17am | Post# 16

{quote} @TheJube -- of course, there's no harm in asking for the source code -- but it is a BIG deal, right?. If the indicator doesn't even show up in the navigator list then why would that be a reason to ask for the source code? It makes no sense... I've already spent time downloading and installing MT4 from one of your preferred brokers -- the indicator appears under the Navigator pane and runs fine. There have been a number of downloads -- and, so far, you are the only one reporting a problem. It is known that MT4 will delete *.ex4 files that...
Installed FXPro's platform and it works there, so it was me!

Thanks for sharing If i have a good idea how to incorporate this indi in trading i'll share it here

Greetz, TheJube

robots4me Apr 22, 2019 7:17am | Post# 17

Installed FXPro's platform and it works there, so it was me!
@TheJube -- excellent. I do appreciate that you let me know.

And, yes, any insights you gain I'd be interested to learn.

Nih98 Apr 22, 2019 7:29am | Post# 18

Nice work Brother.

From programming side, maybe lines color, size, type options will be great and also unique string names for that, so when de-init we could do specific clean out and not delete all objects in active chart.

NIH

4fxonly Apr 22, 2019 7:39am | Post# 19

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Hello, robots4me.
Thanks for sharing. I appreciate the use of this indicator especially for the lazy ones not really keen on drawing the past targets and also to see how the theory has worked in the past (although I wouldn't go as far as to endorse your suggested MA and TMA applications, as they make lose sight of the psychology factor). Something I noticed, though, as shown in the pic: how come those lines do not stop at the points marked by the arrows when the price takes those levels out? There are other examples in that same chart but those 2 are enough to make my point. Maybe a bug?
Also, by keeping the default settings for the 1st option, should we not see only the lines still not violated at this moment, while we see quite a lot that have been stopped, as in yours and my pic?
Again the way the indi behaves right now, it looks useful for looking at the past action, and it's worth to still keep that option, but it would be handy to add a further one, again, to show only the lines still not violated. Thanks.
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grenell Apr 22, 2019 8:01am | Post# 20

{quote} I did it because sometimes the mql4 file does work, and the ex4 file doesnt. I also haven't seen anyone post a working picture yet But back on topic: the file is still in the folder, and still doesn't show up. We will wait and see if im the only one, so if someone else who downloaded it can confirm if it works or not, would be great
I have downloaded and installed on Pepperstone MT4 and it works perfectly. No issues.

I do have a request to robots4me...I am a colour blind male (about 25% of males are colour blind). I have tried to change the colour Magenta to OrangeRed as Magenta and DodgerBlue look pretty much the same colour to me. My changes do not save and revert back to Magenta. When scanning a chart it becomes hard to see the difference when the lines are in close proximity to each other. Is it possible to have the indicator accept changes to the colours?

The concept looks pretty good and I look forward to giving it a run.

FXState Apr 22, 2019 10:58am | Post# 21

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@Robots4me That a great efforts to create the indicator and also to keep the hope alive on George's thread. People are coming forward with their trade Journal and their understanding of George's teaching.

Attached is a similar indicator which I have been using for couple of weeks. It does the same as yours. Keep it up.......

Amos
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FXState Apr 22, 2019 11:06am | Post# 22

{quote} I have downloaded and installed on Pepperstone MT4 and it works perfectly. No issues. I do have a request to robots4me...I am a colour blind male (about 25% of males are colour blind). I have tried to change the colour Magenta to OrangeRed as Magenta and DodgerBlue look pretty much the same colour to me. My changes do not save and revert back to Magenta. When scanning a chart it becomes hard to see the difference when the lines are in close proximity to each other. Is it possible to have the indicator accept changes to the colours? The concept...
Wicks will not stop the horizontal line only candle body. You can see that in the picture from my previous post.

Amos

4fxonly Apr 22, 2019 3:57pm | Post# 23

{quote} Wicks will not stop the horizontal line only candle body. You can see that in the picture from my previous post. Amos
Hello FxState. I'm replying to your post because it looks like you were trying to reply to mine rather than grenell's, who didn't mention wicks. What you say anyway doesn't apply consistently to robots4me's indicator. Sometimes wicks do stop the lines and sometimes they don't. The truth is anyway, if you guys read George's hints, that, regardless if it's wicks or bodies, the lines should stop when taken out (also let's not forget that on different TFs wicks could be bodies and vice versa). The logic of the indicator should be sound and consistent about this.

robots4me Apr 22, 2019 4:01pm | Post# 24

Nice Indicator...Loads Fine....Thanks for Sharing....
However...Adjusting colors of the lines (Dodgerblue/Magenta) doesn' t work.....prefer a bit "brighter" colors....
And ...it deletes all "manual" drawn lines.....
@AndresSR -- I appreciate the good word. I've added a few more settings for adjusting line color, width and style. Also, I've modified the code so that manually drawn lines are not removed when the indicator is deleted.

You can download the latest version from Post #1.

robots4me Apr 22, 2019 4:06pm | Post# 25

Nice work Brother.
From programming side, maybe lines color, size, type options will be great and also unique string names for that, so when de-init we could do specific clean out and not delete all objects in active chart.
@Nih98 -- Thanks for your suggestions. I've modified the indicator to include settings for line color, width and style. Also, I've modified the OnDeinit() routine to only delete objects created by the indicator (when the indicator is removed).

robots4me Apr 22, 2019 4:17pm | Post# 26

Wicks will not stop the horizontal line only candle body.
Sometimes wicks do stop the lines and sometimes they don't.
@FXState, @4fxonly -- gentlemen, thanks for your comments. It helps to have other experienced eyes willing to take a closer look at the data.

I've revisited the code and logic and think the indicator is doing the right thing and is consistent with @George's intention. Here's the deal -- ANY part of a future candle (not just wicks) can take-out a previous TOP or BOTTOM. That's why you can see lines ending anywhere between a future candle's High and Low price. Does that make sense? If not, let me know and I will try another explanation.

robots4me Apr 22, 2019 4:27pm | Post# 27

Attached is a similar indicator which I have been using for couple of weeks. It does the same as yours.
@FXState -- nice indicator. Yep -- appears they do the same thing. If you don't mind my asking -- what method did you use to pick out TOPS and BOTTOMS? I found that using Fractal points worked really well.

robots4me Apr 22, 2019 4:54pm | Post# 28

how come those lines do not stop at the points marked by the arrows when the price takes those levels out? ... Maybe a bug?
@4fxonly -- A bug? A bug? I've been programming for a long time and don't ever recall a bug in my software -- however, I will admit to some unintended "features".

I can not reproduce the problem. In the image you attached I see some "zombie" lines -- are you switching back and forth between two modes or do you have more than one instance of the indicator loaded on the same chart?

If you were to open a fresh chart and simply attach the indicator (accepting just the default values) -- do you see TOP or BOTTOM lines that are not taken out?

4fxonly Apr 22, 2019 5:04pm | Post# 29

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{quote} {quote} ... I've revisited the code and logic and think the indicator is doing the right thing and is consistent with @George's intention. Here's the deal -- ANY part of a future candle (not just wicks) can take-out a previous TOP or BOTTOM. That's why you can see lines ending anywhere between a future candle's High and Low price. Does that make sense? If not, let me know and I will try another explanation.
Hi . Probably I didn't explain myself very well. What you are saying is exactly the way it should be, but not the way your indi is behaving (in some instances). I will try again by using the same picture but this time I marked in white the bits where those lines should start and end. Instead some of them extend for quite some extra length while others, that I added as further examples, extend beyond the wanted ending point for a few bars.
By the way, thanks for your further improvements. Still what I'm pointing out remains a key option.
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robots4me Apr 22, 2019 5:09pm | Post# 30

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...but it would be handy to add a further one, again, to show only the lines still not violated...
@4fxonly -- looking along the far-right edge of a chart it is easy to see which TOPS and BOTTOMS are still alive.

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FXState Apr 22, 2019 5:11pm | Post# 31

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{quote} @FXState -- nice indicator. Yep -- appears they do the same thing. If you don't mind my asking -- what method did you use to pick out TOPS and BOTTOMS? I found that using Fractal points worked really well.
@robots4me I use higher TF fractal points on Lower TF. The method is just the same as yours.

Attached was the picture I took last Thursday.
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robots4me Apr 22, 2019 5:14pm | Post# 32

Instead some of them extend for quite some extra length while others, that I added as further examples, extend beyond the wanted ending point for a few bars.
@4fxonly -- could you please open a fresh chart and simply attach the indicator (using the default settings). And then, using this fresh chart, please point out where TOPS and BOTTOMS extend further than expected.

4fxonly Apr 22, 2019 5:32pm | Post# 33

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{quote} @4fxonly -- could you please open a fresh chart and simply attach the indicator (using the default settings). And then, using this fresh chart, please point out where TOPS and BOTTOMS extend further than expected.
Of course, no problem. The arrows mark the points where those lines should end
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4fxonly Apr 22, 2019 5:32pm | Post# 34

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I was forgetting... Referring to the picture attached, the option I was asking for in my first post (and that would be the real way suggested by George) is that we should see only the lines that are extended to the extreme right, while the ones that have been taken out (like most in the left part of the chart) should not be visible as not relevant for our trading anymore and they just clutter the chart. Their use can only come handy if we want to look at past charts, but it should be available only as an option. Also I marked with arrows some lines that shouldn't be there anymore as they have been taken out already. If not clear, feel free to ask away.
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ForestX Apr 22, 2019 5:45pm | Post# 35

I was forgetting... Referring to the picture attached, the option I was asking for in my first post (and that would be the real way suggested by George) is that we should see only the lines that are extended to the extreme right, while the ones that have been taken out (like most in the left part of the chart) should not be visible as not relevant for our trading anymore and they just clutter the chart. Their use can only come handy if we want to look at past charts, but it should be available only as an option. Also I marked with arrows some lines...

Yeah, that's exactly what I wanted to tell. It's full of a cluster if you look at it but there are important zones. I wonder how can we improve this helpful indicator

4fxonly Apr 22, 2019 5:45pm | Post# 36

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{quote} @4fxonly -- looking along the far-right edge of a chart it is easy to see which TOPS and BOTTOMS are still alive. {image}
...and just to reinforce the concept, I marked on your pic some lines that shouldn't be alive anymore.
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robots4me Apr 22, 2019 5:52pm | Post# 37

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Of course, no problem. The arrows mark the points where those lines should end
@4fxonly -- I'm definitely missing something or I need new glasses. To my eyes, the purple lines you pointed at with yellow arrows are above the price -- hence, they were not taken-out.

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4fxonly Apr 22, 2019 6:03pm | Post# 38

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{quote} @4fxonly -- I'm definitely missing something or I need new glasses. To my eyes, the purple lines you pointed at with yellow arrows are above the price -- hence, they were not taken-out. {image}
No offense, but I would go for the 2nd option
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robots4me Apr 22, 2019 6:06pm | Post# 39

...and just to reinforce the concept, I marked on your pic some lines that shouldn't be alive anymore.
@4fxonly -- and why shouldn't they still be alive? Those purple lines are still higher than any prices that follow the TOPS where they originated.

I was asking for in my first post (and that would be the real way suggested by George) is that we should see only the lines that are extended to the extreme right, while the ones that have been taken out (like most in the left part of the chart) should not be visible as not relevant for our trading anymore and they just clutter the chart.
@4fxonly -- correct -- George probably wouldn't be interested in the TOPS and BOTTOMS that were already taken out. However, since it is easy to see which lines are still alive (by glancing to the right-hand-side of the chart) and since the chart already shows hundreds of historical bars and it really, really is valuable to learn from previous price action (in a visual way) to pick-up new clues, then showing where previous TOPS and BOTTOMS began and ended helps to get your brain around what is really happening.

And, to be honest, if all you are interested in are the TOPS and BOTTOMS that are still alive you don't need an indicator to show that, right? Just look at the current price line and it's pretty obvious.

robots4me Apr 22, 2019 6:10pm | Post# 40

No offense, but I would go for the 2nd option
@4fxonly -- okay, yes, I see it here. I will revisit this and try to better understand what is happening. If there is a bug, it would be the first one (since yesterday)...


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